Teva Pharmaceutical Industries Ltd (Teva) (TASE:TEVA) (NYSE:TEVA), a leader in generic medicines, announced on Wednesday the resolution of its ongoing dispute with biopharmaceutical company Amgen Inc (Nasdaq:AMGN) over Teva's generic cinacalcet HCl product.

Reportedly, Teva and Amgen have been involved in patent infringement litigation and Teva recently received approval for, and launched its generic product in the US.

With this settlement, the litigation between the parties will end and Teva has agreed to stop selling its generic product until its license date in mid-year 2021, or earlier under certain circumstances. Teva will pay Amgen an undisclosed amount as part of the settlement. That amount and other terms of the settlement remain confidential.

Cinacalcet is a calcium-sensing receptor agonist indicated for secondary hyperparathyroidism (HPT) in adult patients with chronic kidney disease on dialysis. It is also used for the treatment of hypercalcemia in adult patients with parathyroid carcinoma and severe hypercalcemia in adult patients with primary HPT who are unable to undergo parathyroidectomy.

Teva has innovative treatments in select areas, including CNS, pain and respiratory. It delivers high-quality generic products and medicines in nearly every therapeutic area to address unmet patient needs.